To encourage my dd into high paying careers?

[AleaEim]

Silly and lighthearted since my dd is still a baby but lately I’ve been reflecting. DH and I come from disadvantaged backgrounds, we were never encouraged to go to uni or choose something well paid. It’s recently dawned on me (in my mid thirties) that all the wealthy or at least comfortable families I know seem to have chosen money over love for their jobs (or in some cases where my female friends with careers in the arts married men who were in finance) therefore they can afford to live in wealthy parts of London comfortably. I used to think that I’d encourage my DD to chase her dreams but now I’m thinking it’s money she needs to chase which is sad because it goes against my values. I just don’t want her to struggle like we did/ do. We live in a small place, and have very little disposable income. We’re moving up in our roles gradually but we’ll never be loaded as I’m in the public sector and DH in hospitality.

@Investerimposter 💯 but that’s true of life full stop.

I think you would be better to work on not projecting yourself onto your DD, and to learn to see her as her own person who will have her own priorities that may be different from yours. So rather than pushing her to a lifestyle you would want yourself, encourage her to acquire self knowledge about what matters to her. By all means encourage her to try hard, share your stories about growing up poor and offer advice and guidance, but allow her freedom to set her own priorities and decide how much she wants to compromise in terms of relationships, work/life balance or job satisfaction to chase money. It's different for us all.

I think it's more important to encourage a love of learning, expose your kids to as many career pathways as possible and help them develop their passions if there is something they particularly enjoy. I also think schools should teach kids how to invest and how to manage money.
I always wanted to be a fashion designer - from the age of 11. Every time I saw the school careers advisor it was "you need to be more realistic, think about being an art teacher" They were not supportive or encouraging. My dad wanted me to be a doctor and that was always pushed on me but ince ge realised i wasnt giving up he encouraged me to be the best at fashion. I had really good grades but I'm glad I stuck to .you guns because I've been a fashion designer for the last 20 years. I didnt earn much to begin with but now earn 6 figures.
And I love it. I feel so lucky that it's my job and I followed my dream.
I know plenty of people that followed career paths that their parents encouraged and then quit 2 years after graduating because they hated it. So I would never force it on my child.
I would however encourage any young person to save as much as possible and to work abroad even if for a few years because the tax is so high in the UK it's very hard to get ahead. Plenty of places with bla better quality of life, paying less tax so you can save money.

So average earnings then. What's so wrong with that. Many people will earn less. These people in their 50s are likely to have paid of mortgages etc. why do they need to be chasing £¢¢

you did very well,, I always thought fashion paid badly.

you did very well,, I always thought fashion paid badly.

you did very well,, I always thought fashion paid badly.

you did very well,, I always thought fashion paid badly.

@AleaEim it does pay badly, to begin with - i started on 16k per year, but I now work as a freelancer and I make alot more by doing so minimum 8k per month before tax, max 12k per month, average around 10k per month.

Not exactly great is it. Even you earn less that's a shocker. Wouldn't you have a family to support as well? My DH is in his 50s and earns c£130k

Setting an example is powerful - and so is talking to your DC about the importance of education and having a fulfilling career that pays well

And when choosing subjects for GCSEs. A levels and degrees be very picky and go for those that will open doors and widen opportunities. Ideally these would include STEM subjects

I'm in my 50s and earn less than half your Hs salary. My children are adults, my mortgage is paid, I do a job I love that i could do in my sleep, and going to work is a pleasure. I have 4 holidays a year and want for nothing. I wouldn't be raising dependent children and slogging away at the rate needed to be earning £130k in my 50s if you paid me, well, £130k. Each to their own.

I'm in my 50s My kids are all grown so no i don't have a family or mortgage to support. Similar with many of my friends

My partner was earning around 120k in his 50s back in 2016. Couldn't spend it and his jow ex wife took 60% of it in a divorce

But about 50% of the population will earn less. Not sure why you se so surprised at tha

You have actually stated your own earnings i see lol

There is no mystery to pensions you just need to pay into them. Ideally more than the 8% minimum

So some careers should have nobody doing them?

I think you've hit on it. Your kids pick up on your expectations for them. My kids know if they are getting good grades and they want to, I'll support them through university. If they don't want to go down that route, I'll support them into a vocational route. Not in a million years do I expect their future to be working in a minimum wage job.

With AI it is difficult to predict what the well paid jobs will be in future. I’m a partner in a law firm and we’re fully expecting a significant proportion of associate jobs to be redundant within 5 years. Many professional firms are already taking fewer trainees - accountancy will be the first to really feel it I think.

However I do believe that it is worthwhile encouraging her (a) to aim for financial success, whatever that looks like when she turns 18; and (b) to stay away from “soft” subjects. She will have a much stronger foundation, whatever the future holds, with A levels and degrees in classical subjects like maths, law, English, history, sciences, engineering than she would with marketing, media, social sciences and, unfortunately, the arts (as anything other than a 3rd/4th A level, a bolted on option, or a hobby).

Also focus on her confidence and presentation/ networking skills. Encourage her to make broad groups of friends, to have the confidence to walk into a room and speak with strangers, to give presentations. Encourage her to be commercial and proactive - well paid professions respect gogetters who understand how the world works commercially and will help them to make money.

Yanbu op. I’m from a culture where there are proper ‘careers’ and hobby jobs.

So arts, history and anything of the like would be hobbies.

30years on and it’s still paying off. Went into a career, am taking a long break as a sahm and with a bit of training to bridge the gap years, I can pick up again. I will be encouraging my kids to do the same. Dh and I both went to University, multiple degrees and we lived in a few different countries. Job, immigration, career opportunities and growth- it always comes down to what qualifications do you have.

Yes i’ve encouraged both of mine into finance careers as they are both great at maths and high achievers. We live near London and you do need a high salary here to have a chance of buying a house.